Dow Jones Futures Drop More Than 550 Points

US stock futures posted big losses in early morning trading Monday, September 20 after the DOW JONES manufacturing index posted three consecutive weeks of losses for the first time since September 2020.

DOW JONES futures fell more than 550 points early in the morning today, and S&P 500 and Nasdaq 100 futures were also trading in the red.

The downward moves in futures came after shares in Hong Kong saw a big sell-off during the Asian trading session on Monday, with the benchmark Hang Seng down 4% as growing concerns surrounding the embattled Chinese developer Evergrande sent other real estate stocks lower.

Stocks, in general, have seen a dip since the beginning of September, a seasonally weak month for the market.

The DOW JONES index closed during the regular Friday session, down by 166.44 points, or 0.5%, to close at 34584.88 points, the S&P 500 fell 0.9% to 4432.99 and the Nasdaq Composite lost 0.9% to close at 15043.97 points.